WESTON, Fla., May 5, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: ROO Group, Inc. (OTCBB:ROOG), Ivoice Incorporated (OTCBB:IVOC), MRV Communications Inc. (Nasdaq:MRVC) and Macrovision Corporation (Nasdaq:MVSN).
Aggressive investors and traders will want to keep a close eye on ROO Group, Inc. (OTCBB:ROOG) again this morning! Yesterday after the markets closed, the company issued a press release announcing that it has completed the purchase of 80% of the outstanding shares of Reality Group Pty Ltd. (Reality)! In addition, the company announced that its Chairman/CEO, Robert Petty, and its CFO/Director, Robyn Smith, have been added to Reality Group's Board of Directors.
This should be great news for investors! As previously announced, the acquisition expands ROO's product offerings and enhances the Company's management expertise. According to the press release, Reality is a provider of integrated communication solutions, including company branding solutions through to online advertising and direct marketing solutions. Its clients include Saab Automobile Australia and BP. Reality recorded revenue exceeding US $4.7 million and EBIT of US$300K for the year ending June 30th 2003 and has displayed positive EBIT and revenue growth since inception 4 years ago
Keep your eyes on this company! Reality will continue to operate as an independent subsidiary of the Company and the management and board of Reality, which has displayed a successful track record, will be retained and continue to manage the company. It is planned that the combined groups will leverage ROO's video solutions and Reality's advertising and marketing expertise, to produce a range of exciting new online marketing solutions.
The stock closed yesterday at twenty-two cents a share.
In case you are not familiar with the company: ROO Group Inc. ("RGI") (www.roogroupinc.com) is a global provider of digital media solutions and technology that enables the activation, marketing and distribution of digital media video content over the Internet and emerging broadcasting platforms such as set top boxes and wireless. RGI's products sold by subsidiary ROO Media Corporation (www.roomedia.com) include syndication, technology, integration, and management of topical video content such as news, entertainment and fashion to its clients' web sites. The distribution, programming and integration of interactive advertising solutions includes 15 to 30 second television-style video commercials which can be played before and after selected topical video content over the Internet. In addition to the expansion and development of ROO TV's (www.rootv.com) network of country-based video-only web sites, RGI's strategy for 2004 is to expand its distribution of products and services and make strategic acquisitions similar to the Reality Group acquisition, which was announced on March 15, 2004 to the Asia Pacific, Europe and the United States markets, to accelerate RGI's growth. More information can be obtained from RGI's web site located at www.roogroupinc.com
Reality Group Pty Ltd. is based in Australia and was formed in 1999. The company is pioneering integrated communication, with an emphasis on web based solutions and CRM programs. In its short life, the company has achieved many milestones including: Voted Australia's most innovative agency (2001/2) and fasted growing agency (2002/3). It also won the Australian Marketing Institute's campaign of the year, 2 ADMA awards for effectiveness, and Australian Tourism's marketing campaign of the year.
Stocks showing interesting activity yesterday were: Ivoice Inc. (OTCBB:IVOC) down 5.8% on 66.3 million shares traded, MRV Communications Inc. (Nasdaq:MRVC) down 1.1% on 478,700 shares traded and Macrovision Corporation (Nasdaq:MVSN) up 29.5% on 7.5 million shares traded.
Commentary:
"Construction spending in March showed the best month on record, according to the Commerce Department report. The building increases was a jump of 1.5 percent from February, making this a seasonally adjusted rate of $944.1 billion, which is the highest amount on record. Also, the Institute for Supply Management said that the manufacturing index for April showed 62.4 percent, higher than the 62.5 percent for March, another good sign for the economy," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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